Latest Ratios: P/E Ratio 20.6x · EV/EBITDA 13.2x · ROE 7363.6%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $16.0B | $13.3B | $15.9B | $15.1B | $10.8B | $17.6B | $14.5B | $13.8B | $9.0B | $14.0B | $10.4B |
| Enterprise Value | $18.8B | $16.1B | $18.5B | $17.8B | $13.8B | $19.9B | $16.2B | $16.1B | $11.4B | $15.9B | $12.4B |
| P/E Ratio → | 20.55 | 16.44 | 19.30 | 16.66 | 12.86 | 43.35 | 18.13 | 21.81 | 12.23 | 26.47 | 21.51 |
| P/S Ratio | 2.12 | 1.76 | 2.03 | 1.90 | 1.25 | 2.10 | 2.02 | 2.06 | 1.35 | 1.83 | 1.42 |
| P/B Ratio | 222.15 | 177.69 | — | 130.50 | — | 225.96 | 34.45 | — | 130.10 | 76.35 | — |
| P/FCF | 18.48 | 15.39 | 17.52 | 12.94 | 17.58 | 21.98 | 17.28 | 20.60 | 11.04 | 24.17 | 19.11 |
| P/OCF | 15.66 | 13.04 | 14.78 | 10.71 | 12.89 | 18.95 | 15.22 | 16.59 | 8.70 | 18.61 | 14.37 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.13 | 2.36 | 2.23 | 1.59 | 2.37 | 2.25 | 2.40 | 1.71 | 2.08 | 1.69 |
| EV / EBITDA | 13.24 | 11.35 | 12.14 | 11.96 | 9.41 | 12.41 | 11.30 | 12.69 | 9.09 | 11.75 | 9.85 |
| EV / EBIT | 14.78 | 13.04 | 14.66 | 13.21 | 10.62 | 24.84 | 12.67 | 15.00 | 10.73 | 13.65 | 11.73 |
| EV / FCF | — | 18.61 | 20.37 | 15.17 | 22.44 | 24.77 | 19.26 | 23.99 | 14.03 | 27.45 | 22.79 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 35.5% | 35.5% | 36.3% | 35.2% | 31.3% | 34.2% | 36.0% | 35.2% | 34.7% | 33.8% | 33.1% |
| Operating Margin | 16.8% | 16.8% | 17.5% | 16.8% | 15.2% | 17.3% | 18.0% | 16.4% | 16.2% | 15.7% | 15.0% |
| Net Profit Margin | 10.7% | 10.7% | 10.5% | 11.4% | 9.7% | 4.8% | 8.5% | 9.4% | 10.9% | 6.9% | 6.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 7363.6% | 7363.6% | 2609.5% | 782.8% | — | 162.7% | 335.9% | 9707.7% | 577.0% | 1320.0% | — |
| ROA | 15.9% | 15.9% | 15.8% | 17.2% | 15.6% | 7.2% | 11.3% | 12.1% | 13.4% | 9.9% | 9.0% |
| ROIC | 35.4% | 35.4% | 39.1% | 36.5% | 39.1% | 49.4% | 45.2% | 34.9% | 35.4% | 45.2% | 42.5% |
| ROCE | 35.9% | 35.9% | 38.5% | 38.4% | 38.2% | 38.8% | 35.4% | 30.5% | 28.5% | 31.8% | 32.2% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 45.81 | 45.81 | — | 28.03 | — | 40.63 | 7.09 | — | 43.17 | 16.86 | — |
| Debt / EBITDA | 2.42 | 2.42 | 2.11 | 2.19 | 2.35 | 1.98 | 2.09 | 2.34 | 2.38 | 2.29 | 2.37 |
| Net Debt / Equity | — | 37.19 | — | 22.56 | — | 28.76 | 3.94 | — | 35.17 | 10.33 | — |
| Net Debt / EBITDA | 1.96 | 1.96 | 1.70 | 1.76 | 2.04 | 1.40 | 1.16 | 1.79 | 1.94 | 1.40 | 1.59 |
| Debt / FCF | — | 3.22 | 2.84 | 2.24 | 4.86 | 2.80 | 1.97 | 3.39 | 2.99 | 3.27 | 3.68 |
| Interest Coverage | 12.24 | 12.24 | 12.73 | 12.68 | 12.05 | 2.88 | 8.85 | 6.75 | 6.81 | 4.18 | 4.63 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.81 | 1.81 | 1.75 | 1.68 | 1.56 | 1.76 | 1.80 | 1.75 | 1.64 | 1.97 | 2.01 |
| Quick Ratio | 1.14 | 1.14 | 1.15 | 1.08 | 0.91 | 1.14 | 1.35 | 1.26 | 1.08 | 1.49 | 1.52 |
| Cash Ratio | 0.41 | 0.41 | 0.41 | 0.37 | 0.24 | 0.48 | 0.69 | 0.45 | 0.33 | 0.80 | 0.82 |
| Asset Turnover | — | 1.45 | 1.56 | 1.49 | 1.67 | 1.50 | 1.24 | 1.33 | 1.23 | 1.39 | 1.43 |
| Inventory Turnover | 4.66 | 4.66 | 5.32 | 5.05 | 4.83 | 4.53 | 5.25 | 5.77 | 4.60 | 6.35 | 6.92 |
| Days Sales Outstanding | — | 49.62 | 48.26 | 49.94 | 48.32 | 51.03 | 57.79 | 54.26 | 54.31 | 50.90 | 45.49 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.6% | 2.0% | 1.6% | 1.7% | 2.4% | 1.2% | 1.0% | 1.0% | 1.5% | 0.9% | 1.2% |
| Payout Ratio | 32.2% | 32.2% | 30.9% | 28.3% | 30.6% | 52.0% | 23.7% | 22.8% | 18.4% | 24.4% | 26.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.9% | 6.1% | 5.2% | 6.0% | 7.8% | 2.3% | 5.5% | 4.6% | 8.2% | 3.8% | 4.6% |
| FCF Yield | 5.4% | 6.5% | 5.7% | 7.7% | 5.7% | 4.6% | 5.8% | 4.9% | 9.1% | 4.1% | 5.2% |
| Buyback Yield | 3.6% | 4.3% | 4.7% | 2.3% | 8.4% | 5.8% | 5.0% | 6.5% | 7.3% | 2.4% | 4.4% |
| Total Shareholder Yield | 5.1% | 6.2% | 6.3% | 4.0% | 10.8% | 7.0% | 6.0% | 7.5% | 8.8% | 3.3% | 5.6% |
| Shares Outstanding | — | $210M | $219M | $226M | $232M | $251M | $264M | $288M | $307M | $318M | $330M |
Retail channel concentration risk
According to current market data, MAS trades at a forward P/E of 18.68, which appears to discount the company's structural reliance on the repair and remodel cycle compared to the premium multiples commanded by specialized coatings peers like Sherwin-Williams, which currently trades at a 33.50 P/E.
The valuation gap between MAS and pure-play coatings competitors suggests that investors are applying a conglomerate discount due to the plumbing segment's higher cyclicality. While the forward EV/EBITDA of 9.61 indicates a more attractive entry point than the broader industrial sector, this multiple may be justified by the lack of organic volume growth and the persistent risks associated with Home Depot channel concentration.
Based on reported financial statements, MAS has struggled to maintain consistent ROIC, with figures fluctuating between 6.9% and 10.5% over the last ten quarters, suggesting that the company's ability to compound returns is frequently interrupted by cyclical demand shifts and significant working capital requirements.
The volatility in ROIC highlights the difficulty of maintaining high returns in a business model heavily dependent on big-box retail inventory cycles. Investors should monitor whether the recent dip toward 8.2% in 2026Q1 represents a structural decay in capital efficiency or merely a temporary response to the current high-interest-rate environment suppressing home improvement activity.
As reported in recent filings, the company's cash conversion cycle has remained elevated, averaging approximately 70 days over the last ten quarters, which reflects the inherent friction of managing inventory across a massive retail distribution network and the resulting impact on short-term liquidity management.
The persistent DIO of 77-82 days suggests that MAS carries significant inventory risk, which is a direct consequence of its symbiotic relationship with Home Depot. This reliance on channel partners limits the company's ability to optimize its cash conversion cycle, leaving it vulnerable to sudden inventory corrections if consumer demand for home improvement projects softens further.
According to the latest balance sheet data, the debt-to-equity ratio has surged to 122.30 in 2026Q1, a concerning escalation that warrants investigation given the company's history of prioritizing share repurchases over the accumulation of book value in a high-interest-rate environment.
The rapid increase in leverage, combined with a persistent negative equity position, suggests that the company's capital structure is becoming increasingly strained. While interest coverage remains adequate at 12.15x, the reliance on debt to fund shareholder returns in a stagnant housing market may limit the company's ability to pursue necessary bolt-on acquisitions or defend its market share against aggressive competitors.
Investors frequently misapply the Price-to-Book ratio to MAS, which currently sits at an extreme 223.66, failing to account for the company's aggressive share repurchase strategy that has systematically eroded the equity base and rendered traditional book value analysis largely irrelevant for assessing long-term solvency.
Because MAS has prioritized returning capital to shareholders over building tangible book value, the P/B ratio provides a distorted view of the company's financial health. Analysts should instead focus on EV/EBITDA and free cash flow yield to better understand the company's true earning power and its ability to service debt obligations without relying on equity-based valuation metrics.
Includes 30+ ratios · 30 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying MAS stock.
Masco Corporation's current P/E ratio is 20.6x. The historical average is 21.2x. This places it at the 64th percentile of its historical range.
Masco Corporation's current EV/EBITDA is 13.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.5x.
Masco Corporation's return on equity (ROE) is 7363.6%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 33.5%.
Based on historical data, Masco Corporation is trading at a P/E of 20.6x. This is at the 64th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Masco Corporation's current dividend yield is 1.57% with a payout ratio of 32.2%.
Masco Corporation has 35.5% gross margin and 16.8% operating margin. Operating margin between 10-20% is typical for established companies.
Masco Corporation's Debt/EBITDA ratio is 2.4x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.